Dollar Dips against Most Major Currencies; Gold Prices Higher

THE JOURNAL RECORD, August 18, 1987 | Go to article overview

Dollar Dips against Most Major Currencies; Gold Prices Higher


NEW YORK (AP) - The dollar drifted lower against most major currencies in quiet trading Monday, extending Friday's losses after the government reported an unexpectedly large increase in the June trade deficit.

Gold prices were higher. Republic National Bank of New York at 4 p.m. EDT quoted gold bullion at $454.00 a troy ounce, up $2.50 from Friday's close.

John McCarthy, a trader with Irving Trust Co., said the dollar's decline was a follow-through from Friday, when it was pushed down by a Commerce Department report showing the trade shortfall widened to $15.7 billion in June, an apparent record.

The report had raised the question in financial circles as to whether the dollar needed to fall further to have a positive impact on the U.S. trade performance, dealers said.

But McCarthy said, ``The general consensus is mixed. There's still quite a few people who believe the dollar isn't going to go much lower.''

Continued tensions in the Middle East, where U.S. warships are escorting reflagged Kuwaiti tankers through the war-torn Persian Gulf, are keeping the dollar from falling even further, said Dan Holland, a trader with Discount Corp.

The dollar is often seen as a safe haven during times of international tension.

In Tokyo, where trading ends before Europe's business day begins, the dollar plunged 2.20 Japanese yen, closing at 150.20 yen compared with Friday's 152.40 yen. It was quoted lower in London at 150.00 yen. Later, in New York, the dollar stood at 149.32 yen, down from 149.93 late Friday.

The dollar fell against the British pound in London and the United States. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Dollar Dips against Most Major Currencies; Gold Prices Higher
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.